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Snam SpAXBUL:SNM 68 Net Margin % is 37.54% as of Mar. 2026, which is 6% above its 10-year median of 35.45. GuruFocus rates XBUL:SNM with a GF Score™ of 68/100 and a GF Value™ of лв4.09. The stock has 5 warning signs investors should review. Among 500 Utilities - Regulated companies, Snam SpA ranks better than 91.8% on this metric.
Net margin is calculated as Net Income divided by its Revenue. Snam SpA's Net Income for the
six
months ended in Mar. 2026 was лв730 Mil. Snam SpA's Revenue for the
six
months ended in Mar. 2026 was лв1,944 Mil. Therefore, Snam SpA's net margin for the quarter that ended in Mar. 2026 was 37.54%.
The historical rank and industry rank for Snam SpA's Net Margin % or its related term are showing as below:
XBUL:SNM'
s Net Margin % Range Over the Past 10 Years
Min: 19.19 Med: 35.45 Max: 45.54
Current: 28.96
XBUL:SNM's Net Margin % is ranked better than 91.8% of 500
companies
in the Utilities - Regulated industry
Industry Median: 8.215
vs XBUL:SNM: 28.96
Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.
But the long term trend of the net margin is a good indicator of the competitiveness and health of the business.
Snam SpA Net Margin % Related Terms
Snam SpA Net Margin % Historical Data
* Premium members only.
The historical data trend for Snam SpA's Net Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Utilities - Regulated Gas subindustry, Snam SpA's Net Margin %, along with its competitors' market caps and Net Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Snam SpA Net Margin % vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Snam SpA's Net Margin % distribution charts can be found below:
* The bar in red indicates where Snam SpA's Net Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Snam SpA (XBUL:SNM) has a Net Margin % of 37.54% as of Mar. 2026. Net margin is the ratio of total net income to net sales. View historical data on Snam SpA and its competitors. This is near median its historical median of 35.45. Over the past decade, Snam SpA's Net Margin % has ranged from 19.19 to 45.54. According to the industry distribution chart, Snam SpA ranks #41 out of 500 companies in the Utilities - Regulated industry, placing it in the top 8.2%.
Is Snam SpA's Net Margin % too high?
Snam SpA's current Net Margin % of 37.54% is near median its 10-year median of 35.45. Over the past 10 years, this metric has ranged from a low of 19.19 to a high of 45.54. The Utilities - Regulated industry median Net Margin % is 8.22. Snam SpA's value of 37.54% is 357% above this industry median. Based on the distribution chart, Snam SpA ranks #41 out of 500 companies in the Utilities - Regulated industry, which is in the top quartile — a strong position relative to peers. Overall, Snam SpA has a GF Score™ of 68/100, reflecting its overall financial health beyond just this single metric.
How does Snam SpA's Net Margin % compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, Snam SpA ranks #41 out of 500 companies for Net Margin %. This places Snam SpA in the top 8% of its industry — outperforming the majority of peers. The industry median Net Margin % is 8.22. Snam SpA's value of 37.54% is 357% above this benchmark. Historically, Snam SpA's own Net Margin % has ranged from 19.19 to 45.54 over the past decade. While the company's 10-year median is 35.45 vs. the industry median of 8.22, Snam SpA has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Margin % for an Utilities - Regulated company?
The median Net Margin % among Utilities - Regulated companies is 8.22, based on 500 companies in the industry. Companies in the top quartile (top 25%) have a Net Margin % significantly above this median, while those in the bottom quartile fall well below. However, Net Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Snam SpA's current Net Margin % of 37.54% is 357% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net Margin % mean?
A high Net Margin % can signal that a stock is expensive relative to its fundamentals. Net margin is the ratio of total net income to net sales. View historical data on Snam SpA and its competitors. For the Utilities - Regulated industry, the median Net Margin % is 8.22 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Snam SpA's current Net Margin % is 37.54%, which is near median its own 10-year median of 35.45. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Snam SpA stock overvalued right now?
Snam SpA (XBUL:SNM) has a current Net Margin % of 37.54%. The stock's GF Value™ is лв4.09, compared to a current price of лв4.46 — trading 9% above its estimated fair value. The current Net Margin % is 37.54%, which is near median its 10-year median of 35.45 and 357% above the Utilities - Regulated industry median of 8.22. Snam SpA's overall GF Score™ is 68/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Margin % calculated?
Net Margin % is calculated from a company's financial statements. For Snam SpA (XBUL:SNM), the current Net Margin % is 37.54% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Snam SpA (XBUL:SNM) Overvalued in 2026?
Based on GuruFocus' analysis, Snam SpA stock appears to be overvalued.
The current stock price of лв4.46 is trading 9% above its estimated GF Value™ of лв4.09.
Key valuation signals for XBUL:SNM:
Net Margin %: 37.54% (near median its 10-year median of 35.45)
GF Value™: лв4.09 vs. price of лв4.46 (9% above fair value)
Industry Position: 357% above the Utilities - Regulated median (#41 of 500)
No single metric tells the full story. See the XBUL:SNM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Snam operates a network of about 38,000 kilometers of natural gas pipelines in Italy and abroad. It also holds 17% of European gas storage capacity and 18.1 billion cubic meters of LNG regasification capacity. Snam is investing in hydrogen, biofuels, carbon capture and storage, and energy efficiencies to prepare for the energy transition. Snam became independent from Eni in 2012 after the latter sold its stake to Cassa Depositi e Prestiti, a financial institution controlled by the Ministry of Economy and Finance.
68GF Score
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